Forward Industries and RockawayX Co-Lead Strategic Investment in OnRe to Accelerate Onchain Reinsurance on Solana

Investment Advances Forward’s Strategy to Build Shareholder Value Through Active Participation in Tokenized Real-World Assets and Solana’s Growing RWA Ecosystem

AUSTIN, TX, May 05, 2026 (GLOBE NEWSWIRE) -- Forward Industries, Inc. (NASDAQ: FWDI) (the "Company" or "Forward"), the leading Solana treasury company, today announced a strategic investment in OnRe, a regulated onchain reinsurance company, alongside RockawayX, the global multi-strategy digital asset investment firm. The two firms co-led OnRe's $5 million Series A round. Separately, Forward intends to deploy up to $25 million into ONyc, OnRe's yield-bearing token on Solana.

OnRe is a Bermuda-licensed reinsurance company regulated under both the Bermuda Insurance Act and the Digital Asset Business Act. Its yield-bearing real-world asset (RWA) token, ONyc, gives onchain participants exposure to a diversified portfolio of underwritten reinsurance risk, an asset class that has historically been the domain of large institutional allocators. ONyc is integrated across Solana’s leading DeFi venues, where it can be used as collateral for lending, borrowing, and looping strategies.

“Forward’s investment in OnRe and ONyc marks a natural extension of our Solana treasury strategy—expanding beyond native staking yield into high-quality, real-world cash flows that are both complementary and uncorrelated. By gaining exposure to reinsurance through a tokenized, on-chain structure, we’re unlocking a new layer of durable, dollar-denominated income while remaining fully aligned with the Solana ecosystem. We view OnRe and ONyc as a blueprint for where institutional capital is going—real-world assets, structured and distributed on high-performance blockchains like Solana.” said Ryan Navi, Chief Investment Officer of Forward Industries. “This is a foundational step in our long-term vision to evolve Forward into the “Berkshire Hathaway of Solana”—allocating capital across a diversified set of high-return opportunities that compound value for shareholders over time.”

“We seeded OnRe, validated it as an early underwriter, and provided initial liquidity through our credit division, before scaling capital through our curated vaults,” said Viktor Fischer, CEO of RockawayX. “Watching OnRe grow from zero into a flagship RWA on Solana shows how much demand there is for new onchain yield sources and how quickly the best products can scale.”

Forward’s investment and deployment in OnRe aligns with the company’s goal to leverage the Solana ecosystem to generate revenue and shareholder value. The company views tokenized RWAs as one of the most durable growth areas in onchain capital markets, and believes Solana’s throughput and institutional traction make it the natural infrastructure for that activity. By both investing in and deploying on OnRe, Forward is positioning itself to capitalize on continued demand for tokenized RWAs while simultaneously adding a USD-denominated non-correlated revenue stream to complement its existing SOL-focused strategies — directly supporting Forward’s goal of diversifying its treasury income and finding high quality, durable yield in excess of our cost of capital which will not only accelerate Forward’s ability to compound shareholder value, but also improve its resilience.

OnRe will use the proceeds of the fundraise to scale underwriting capacity, deepen protocol integrations across the Solana ecosystem, and support team expansion. Forward’s ONyc deployment is expected to generate ongoing yield income for its balance sheet, which the company believes will contribute to long-term shareholder value by building a diversified, yield-generating treasury alongside its core SOL holdings.

"This round marks the beginning of OnRe's scaling phase," said Dan Roberts, Co-Founder and CEO of OnRe. "We are focused on expanding liquidity, strengthening infrastructure, and driving global distribution through strategic partnerships. Forward is a key addition to this strategy and, alongside our deepening alignment with RockawayX, is well positioned to support our growth in the years ahead."

The OnRe investment follows earlier strategic initiatives by Forward including its Solana validator, the launch of fwdSOL, and the tokenization of FWDI shares through Superstate, and reflects the Company’s conviction in the network and its intent to remain active across the ecosystem.

About Forward Industries, Inc.

Forward Industries, Inc. (NASDAQ: FWDI) is a Solana-focused digital asset treasury company, with the strategy to buy, hold, stake, trade, invest in, and grow SOL and SOL related digital assets, protocols and businesses. Forward’s mission is to expand and strengthen the Solana ecosystem by acquiring and staking SOL and engaging with, providing tools to and investing in the Solana network, Solana developers and Solana related projects in order to increase shareholder value. In connection with a private placement transaction in September 2025, Forward launched a digital asset treasury strategy supported by industry leading investors and operating partners including Galaxy Digital and Jump Crypto. For more information on the Company's Solana treasury strategy, visit www.forwardindustries.com.

About OnRe

On Re SAC Ltd. is a fully licensed, collateralized reinsurer and onchain asset manager connecting a $250B market of alternative capital with the $800B global P&C reinsurance market. Beyond bringing additional capacity to the industry, OnRe provides investors access to a diversified portfolio through ONyc, a tokenized reinsurance vehicle designed for resilient performance across market cycles. Through rigorous capital modeling and 24/7 ONyc liquidity, OnRe sets a new standard for reinsurance capital formation.

About RockawayX

RockawayX is a leading multi-strategy digital asset investment firm with over $1.5 billion in assets under management, operating across venture, credit, liquidity, curation and infrastructure.

The firm invests in companies building the onchain economy, combining venture investing with deep operational expertise. Since 2018, the firm has backed 100+ early-stage crypto projects, including Solana, Kamino, Double Zero and OnRe.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” “intend,” and other words of similar meaning. These forward-looking statements address various matters, including statements relating to the anticipated benefits of the investment and the deployment of capital into ONyc described herein, the timing and amount of any such deployment, OnRe’s anticipated growth and product development, the development of the tokenized real-world asset and onchain reinsurance markets, the Company’s plan for value creation and strategic advantages, and market size and growth opportunities. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the risk that the Company may deploy less than the full amount of capital indicated, or none at all, into ONyc; the risk that ONyc may not perform as expected; the risk that the anticipated benefits of the investment may not be realized; the risk that OnRe may not achieve its growth or product development objectives; the highly volatile nature of the price of Solana and other digital assets; the risk that the price of the Company’s common stock may be highly correlated to the price of the digital assets that it holds; risks related to increased competition in the markets in which the Company and OnRe operate; risks relating to significant legal, commercial, regulatory, and technical uncertainty regarding digital assets and tokenized real-world assets generally; risks relating to the regulation of reinsurance and insurance-linked products in Bermuda and other jurisdictions; risks relating to the treatment of crypto assets for U.S. and foreign tax purposes; and those risks and uncertainties identified in the Company’s filings with the Securities and Exchange Commission. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements.

Contacts

Media
Garrison Yang
Forward Industries, Inc.
gyang@forwardindustries.com

Investor Relations
Sean Mansouri, CFA / Aaron D’Souza
Elevate IR
(720) 330-2829
ir@forwardindustries.com

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